Arabtec Heads For Biggest Gain in Week on Aabar Stake
(Correct company name on headline.)
Arabtec Holding Co. (ARTC) headed for the biggest advance in a week after Aabar Investments PJSC, an Abu Dhabi government-controlled company, raised its stake in the United Arab Emirates builder to 5.28 percent.
The shares gained as much as 5.1 percent, poised for the biggest gain since Feb. 28, to 3.68 dirhams before trading at 3.56 dirhams at 10:04 a.m. in Dubai.
Data posted on Dubai’s stock exchange show the shareholding is listed under Aabar Petroleum Investments Co., which in 2008 sold its energy assets to Mubadala Development Co., an investment company owned by the Abu Dhabi government.
To contact the reporter on this story: Zahra Hankir in Dubai at firstname.lastname@example.org
To contact the editor responsible for this story: Shaji Mathew at email@example.com